Author(s)

Shun Rao ¹

Affiliation(s)

¹ International University of Mongolia and China, Ulaanbaatar, 11000, Mongolia

Corresponding Author

Shun Rao

ABSTRACT

Management accounting and financial accounting are two aspects of enterprise financial management, which complement each other and work together, and are of great significance in promoting the high-quality development of enterprises. However, the integration of the two is not high, and management accounting has not played its due role in decision support. It cannot meet the needs of enterprise management to cope with the significant challenges of the global economic situation. In order to improve the core competitiveness of enterprises in the industry and the ability to cope with risks, the integration of management accounting and financial accounting application research has become the focus of enterprise financial management. This article analyzes the concepts of management accounting and financial accounting, their differences and connections, which can be integrated; we need to clarify the current situation and difficulties of integrating management accounting and financial accounting, integrate the application of management accounting and financial accounting to improve corporate governance, support enterprises in responding to market challenges, and promote sustainable and high-quality development.

KEYWORDS

Enterprise, Management accounting, Financial accounting, Integration and application, High-quality development

CITE THIS PAPER

Shun Rao, Reflections on the Integration and Application of Management Accounting and Financial Accounting in Enterprises. Accounting, Auditing and Finance (2024) Vol. 5: 148-157. DOI: http://dx.doi.org/10.23977/accaf.2024.050219.

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